For the week ending Sunday April 7th 2024 there were 40 residential sales recorded last week at an average sale price of 1,057,000. This represents a slight uptick from last week when we recorded 31 sales and prices are remaining the same. Rutland was the most active community last week with 7 sales followed by Black Mountain with 4 and Wilden with 3. The best thing one can say about 40 transactions over a weeklong period is that it’s a bigger number than 31. We’ll accept the momentum with gratitude but are hopeful to be back in the 50s soon. There were 17 apartment condo transactions last we ..read more

Residential Sales 34 residential sales last week including three selling over $2 million and four under $600,000. The same week last year produced 54 sales so we’re beginning to fall behind a bit. A bit of momentum from previous week when we recorded 32 transactions. The average sale price this year is $1,033,000 and the median sale price is $907,500. Condo Sales There were an additional 20 apartment sales last week which is up from 19 the previous week. Like residential, this isn’t a huge increase but this corner of the internet is a safe harbour of optimism. We’ll gladly take any good news ..read more

Kelowna Housing You can almost set your watch to Kelowna housing numbers these days as we report another week with little variation. Last week we generated 32 residential transactions with an average sale price of $1,087,000. The median sale price was $894,000. Of note, three homes sold over $2MM including one over $3MM. Nine of the homes sold in the $680,000 to $800,000 range which is our bread and butter. It’s still a difficult and expensive city to buy a home without any true “affordable” parts of town anymore. There were 19 condo apartment sales last week and another 12 town houses. If we ..read more

A cyclists guide to visiting wineries It’s warming up here in Kelowna and as the streets in town are being cleaned and more an more cyclists are out and about, especially on weekends, let’s take a look at one of the best ways to see the city. On a bike. Let’s randomly begin at Vibrant Vines winery on 3240 Pooley Rd. You can choose to start anywhere in town and cycle to begin. For example it’s a 6km ride from Rona and 7km from Gyro Beach parking lot. Nothing too intimidating really. You won’t look out of place visiting a winery on a bike even if you’re wearing spandex with impractical cycling ..read more

Housing Update for the Week Ending February 18, 2024 Last week saw Kelowna Realtors generate 33 residential sales ranging in price from a low of $635,000 up to a high of $1,735,000. The average sale price dipped below $1 million for the first time in a while to $990,000 and the median sale price was $854,000. Year to date there have been 165 residential sales compared to 161 at this point in the calendar last year. Let’s call this a wash. Prices are a little softer so far this year with the average being $1,036,000 this year compared to $1,103,000. This represents a 6% drop in prices over the ..read more

Top Restaurants in Kelowna, West Kelowna, Peachland & Lake Country The Okanagan Valley, with its picturesque landscapes and lush vineyards, is a haven for wine enthusiasts and a paradise for food lovers. The region's towns—Kelowna, West Kelowna, Peachland, and Lake Country—boast an impressive array of restaurants catering to every palate, offering a culinary journey as diverse and vibrant as the valley. Let's embark on a gastronomic tour through these towns to uncover some of the Okanagan's finest dining experiences. KELOWNA Roma Nord Bistro 421 Cawston Ave, Kelowna, BC V1Y 6Z1 Roma Nord ..read more

Roundup for the Month of January For the week ending January 28 2024 our market produced another 27 residential sales. Of note there were eight sales in Rutland and two more in Black Mountain. The west side of the lake was quiet last week with only three sales so look for a big bounce back week from the west side. The average sale price last week was $967,000 and the median sale price was $870,000. This is an increase from the 17 homes sold last week and 19 home sales for the same week last year. Progress is progress I suppose. We will have more to report next week with the monthly wrap up bu ..read more

Demand slowing down as we enter 4th quarter   There were 25 residential sales recorded last week, which is down from the 30 we saw the week previous. The Average price last week was 1,043,000, which is a little low. There is nothing really to be concerned or excited about with such a small sample size.   So far this calendar year, we've recorded 1,719 residential sales. At this point last year, we were at 2,075, a 17% decrease in volume. Soft landing? Correction? Resetting back to normal? Take your pick on how you want this explained, but the demand for housi ..read more

Adapting to the New Airbnb Landscape As we all know Kelowna has long been a tourist hotspot with its stunning natural landscapes, award winning wineries, championship golf courses and diverse cultural experiences. As a result, Airbnb has flourished offering property owners the opportunity to earn extra income by hosting travellers in their homes. However, recent changes in Airbnb regulations will significantly impact property owners in BC. Understanding the New Regulations To address concerns over the impact of short-term rentals on the availability of long-term housing and regulate the growi ..read more

For the week ending September 24th there were 23 registered residential sales which is a continuation of a trend of unimpressive housing numbers due to the three pronged attack of securing fire insurance, high lending rates and the fire itself. We seem to have tackled the actual fire with help from all the rain we’ve had and air quality is back to normal. Every day buyers are reporting success with securing fire insurance all over our market area so it appears we’ve put that problem in the rear view mirror. We still face challenges with fixed lending rates in the around 6% but at some point i ..read more